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The World Oil Market and Its Influence on Russian Economy

  • E. V. BokarevaEmail author
  • A. A. Silaeva
  • A. P. Sokolova
  • M. A. Atamanova
  • S. A. Zudenkova
Conference paper
Part of the Smart Innovation, Systems and Technologies book series (SIST, volume 138)

Abstract

There is a long and continuing struggle control over oil wealth direct or indirect through the regulation of the market of black gold. Internationally, many wars have already taken place which, upon closer examination turn out to be wars for oil. The purpose of this article is to analyze the factors which influence the formation of demand and supply in the oil market. Additionally, a general analysis of the current situation on the world oil market is performed, along with the identification of problems and prospects for its further development and the determination of the trends in the development of the world oil market. During the course of the research, various methods of analysis, synthesis, and methods of comparison and generalization were used. Proceeding from the conducted correlation analysis, the price of oil has the greatest impact on GDP and formation of Russia’s balance of payments.

Keywords

Oil market World trade organization Reserve Fund Volatility 

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Copyright information

© Springer Nature Switzerland AG 2020

Authors and Affiliations

  • E. V. Bokareva
    • 1
    Email author
  • A. A. Silaeva
    • 1
  • A. P. Sokolova
    • 1
  • M. A. Atamanova
    • 1
  • S. A. Zudenkova
    • 1
  1. 1.Graduate School of Business, Management and LawRussian State University of Tourism and ServiceMoscow RegionRussian Federation

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